Bloomberg reported General Electric’s credit rating, the best among U.S. industrial companies, is at risk as the manufacturing giant weighs adding debt to support its expansion.

According to Bloomberg’s Joel Levington, an analyst with Bloomberg Intelligence, a proposal to borrow as much as $20 billion would likely reduce GE’s AA+ rating from Standard & Poor’s. While the move could hurt bondholders, it will boost GE’s ability to make acquisitions and repurchase shares, he said.

“More and more companies are finding less strategic value in having really high ratings,” Levington said. “Rates are low and you’re in this environment of very little growth. When you can’t get a tremendous amount of growth, this is the way to supplement your growth.”

Bloomberg reported that GE, which is shedding the bulk of its finance unit in favor of industrial operations, may no longer need such a high rating.

To read the full Bloomberg report, click here.